Sundial Growers Resumes Downtrend

After two weeks of consolidating below resistance at the one dollar level, shares of Reddit favorite Sundial Growers Inc. SNDL have resumed their downtrend.

This isn't surprising. There were two reasons why the stock soared in February: it's a penny stock and a cannabis company. There were no true fundamental reasons for the move.

There’s a good chance shares continue to trend even lower. Over the past two years, this company has lost about $400 million and many analysts predict it will lose money this year as well.